Premiums would rise, more insurers would leave markets in the immediate future and the federal budget deficit would soar if President Donald Trump were to cease funding a key set of Obamacare subsidies, according to the bipartisan Congressional Budget Office.

The CBO's report, "The Effect of Terminating Payments for Cost-Sharing Reductions," is contingent on how the policy would be implemented, but it offers a rough scenario if Trump follows through on his threats to stop payments on those subsidies. He floated the idea shortly after the GOP's effort to repeal and replace the Affordable Care Act flamed out in the Senate last month.

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Cost-sharing payments reimburse insurers for subsidizing out-of-pocket costs for lower-income people. With an estimated 6 million people qualifying for the help, the payments totaled about $7 billion this year and can greatly reduce deductibles.

Insurers in some states would withdraw or not enter marketplaces because of uncertainty on how the policy would affect health care costs. By 2020, however, the report says insurers would return after observing how markets respond under the new policy.

Gross premiums for standard silver plans sold through marketplaces would be 20 percent higher next year and 25 percent higher by 2020.

The report was requested by House Minority Leader Nancy Pelosi (D-Calif.) and Democratic Whip Steny Hoyer.